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Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
 The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GDP. The degree to which different economies will be affected varies, with some countries looking at damages only in few industries. In that spirit, since the Greek economy is not very reliant to the Chinese one, we can assume that the sector that will suffer most will be tourism, taking into consideration the upcoming holiday cancellation domino effect from Asia based citizens.
The Chinese government announced that aggressive measures will come into effect in an effort to limit the impact of a major shock from the spread of the coronavirus outbreak to the global economy. Part of these measures will include a brave injection of 1.2 trillion yuan (EUR 156 billion) in the country’s financial system as well as tariff exemptions on US farm, medical and energy products. In an effort to assess the extent that the economic impact the virus outbreak will have, Goldman Sachs analysts estimated that only a 0.1%-0.2% of the global economy will be affected, with this cost climbing up to 0.3% of the global GDP in the most pessimistic scenario.
The tanker market was the last one feeling the impact of the virus outbreak, with demand and rates being affected fairly recently compared to other sectors, however, if the spread continues for a long time, then Chinese demand for oil may experience contraction and push rates to even lower levels. On the dirty tanker market, we have seen a fall over the last weeks due to the lifting of US sanctions on Chinese-interest ships, with almost 40 VLCC tankers having returned to the market, significantly increasing the availability of tonnage as a result. In addition, as the countries of the West gradually enter the spring season, a brake on demand for tanker vessels is also on the cards due to seasonality.
On other news that could have a negative impact in the progress of the industry, the Manila Times newspaper pointed out the systematic failure of Philippine's Naval Schools and Academies to meet the international standards of training for a variety of reasons, including the poor naval training system, especially for low-wage crews.
According to the Philippine Maritime Industry Authority (Marina), 61 of the country's 91 naval schools should immediately cease their operations as there is no compliance with the requirements of the STCW (International Maritime Organization Convention on Standards of Training Certification and Watchkeeping for Seafarers). A development like that, which concerns the two-thirds of naval schools in the country, will seriously affect the capacity to train seafarers and the international credibility of all graduates from the Philippine naval schools.
By Zisis Stylianos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
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